Page 10 - Gaming Industry

Meta, Google must help combat India's illegal gambling, betting mkt: Study

A report by not-for-profit think tank Digital India Foundation states that the illegal gambling and betting ecosystem in India exceeds $100 billion annually and is growing at 30 per cent per year

Head Digital Works acquires Adda52 parent Deltatech Gaming for Rs 491 cr

This will be the second largest deal in the online rummy and poker gaming segment. In September, Nazara Technologies bought a significant stake in Moonshine Technology (MTPL)

Asci flags 413 offshore online betting advertisements for violating norms

Between April 2023 and March 2024, ASCI flagged 1,336 advertisements, and 492 cases related to RMGs were observed by the body

FATF invites Indian online gaming firms to discuss laundering risks

Companies invited for tomorrow's meet include Dream11, Baazi Games, Zupee, WinZO, and others

MIB, IEIC, and WinZO launch Tech Triumph Season 3 for gaming startups

The TTP supports gaming startups through investment, mentorship, and global exposure

TN gaming rules may spur similar action by other states, add biz hurdles

These rules are also likely to lead to fragmentation of rules across these states as there is a lack of central regulation for online gaming and real money games

PlayStation network outage affects thousands of gamers, Sony informs on 'X'

Downdetector data showed users of popular titles such as Call of Duty and Fortnite began reporting outages since Friday. At one stage the number of PlayStation incident reports reached over 14,000

PlaySuper raises $500,000 in seed funding led by IAN Angel Fund, 100X.VC

PlaySuper will launch a hyper-personalised in-game store allowing integration without requiring updates

New gaming titles to dominate growth for India's gaming sector: Survey

Seven out of 10 industry stakeholders and company leaders believe that local themes, languages, and culturally resonant content may determine the success of Indian games in 2025

Epic Games kicks off plan to add third-party games to own mobile store

Epic Games will launch a program to offer free games on its mobile store, starting with titles such as "Bloons TD 6" and "Dungeon of the Endless: Apogee"

Games24x7 announces final list of its startup accelerator programme

More than 330 companies had applied to the programme, which was launched in October 2024

SOGI urges 28% GST on platform fees and not deposits, for gaming firms

Real money gaming firms-backed Skill Online Games Institute (SOGI) has demanded that the government levy 28 per cent GST on platform fees instead of on deposit for gaming companies in India, to prevent offshore platforms from taking advantage of significant tax arbitrage. The demand comes ahead of the 55th meeting of the GST Council in Jaisalmer, Rajasthan on Saturday. In an interview with PTI, Amrit Kiran Singh, President of SOGI, said the online gaming industry is in a nascent stage and the government and industry need to work together to harness the full positives of this industry for the economy and country. "SOGI has approached the Indian government to put forward its recommendations that will allow India to harness the full potential of this huge industry for creating jobs and contributing to its GDP while simultaneously mitigating negative aspects of such as addiction," he said. Starting October 1, 2023, deposits on online gaming platforms and casinos attracted 28 per cent G

GST on betting: Indian gaming industry faces tax demands by Feb 2025

While some firms have already received tax demands, gaming industry bodies are lobbying to prevent aggressive enforcement actions until the Supreme Court resolves the matter

25 years after the Matrix: Simulation theory more relevant than ever

Regardless of The Matrix, Nick Bostrom, Elon Musk, or the peculiarities of quantum physics, we might still be living in "base reality."

Nazara Technologies' board approves five investments worth Rs 196 cr

Gaming and sports media firm Nazara Technologies' board has approved five investments worth Rs 196 crore, including 100 per cent acquisition of stake in Sportskeeda owner firm Absolute Sports, the company said in a regulatory filing on Monday. Of the total Rs 196 crore, Nazara will invest Rs 148 crore in existing subsidiaries, including Sportskeeda, Nodwin Gaming, and Datawrkz, to increase its ownership in them and support their growth. The company will invest Rs 69 crore to purchase shares arising from exercise of ESOPs from the Sportskeeda management to increase its stake to 100 per cent in the company, making it a wholly owned subsidiary. Nazara Technologies board approved investment of Rs 64 crore in its subsidiary Nodwin Gaming. The investment will be done through subscription of optionally convertible preference shares. The funds will support Nodwin's expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets, according to the ...

Nazara Tech raises Rs 855 cr via preferential issue to fuel expansion

In a regulatory filing on November 27, Nazara's board approved the allotment of 8,959,728 shares at an issue price of Rs 954.27 a share

India's online gaming market grew by 23% in FY24 despite GST burden: Report

Average weekly time spent on online games soars 30%. Over 44% of gamers are now women, up from 41% the previous year, playing casual mobile games

India emerging as good opportunity market for Sony's gaming biz: India MD

India is emerging as a "good opportunity market" in the gaming business for the consumer electronic major Sony, its India Managing Director Sunil Nayyar said. The company has reported "phenomenal growth" in the gaming business in FY24, with the robust performance of PlayStation 5 and its software peripherals. Sony India's PlayStation dominates the console operating gaming system market here with around 95 per cent market share and has almost doubled its revenue in FY 2023-24 from the segment. However, now, it expects a moderation in the growth rates because of the high base, Nayyar said. "Now, the base is very high because we almost achieved the double business last year. So this year, we intend to have modest growth, but we are developing the gaming business market in the country, including software development and peripherals etc," the Sony India MD told PTI. Sony India last week filed its annual returns to report over 50.1 per cent growth from its 'other business' segment at Rs

India's gaming industry steps up profile with homemade 'AAA' products

Two such games launched in October alone as the industry tackles 28 per cent GST

Awareness essential to protect oneself from 'cyber arrest' scams: PM Modi

Prime Minister Narendra Modi on Sunday spoke about the cyber crime of "digital arrests", noting that it has hit all sections of society and urging people to adopt the mantra of "stop, think and take action" when faced with such a scam. In his 'Mann ki Baat' broadcast, Modi said probe agencies are working with states to deal with the issue but added that awareness is essential in protecting oneself from this crime. The prime minister played a representative video to show how such criminals pose as probe agency officials to prey on people's fear after gathering detailed information about their potential victims. He said, "Beware of Digital Arrest frauds.No investigative agency will ever contact you by phone or video call for such an investigation." Modi asked people to dial 1930 to connect with national cyber helpline or connect with its portal and also inform police about such a crime. They should record such conversations and also take screenshots, he said touching on the crime wh